Mar, 31, 2022 — COREPLUS FEDERAL CREDIT UNION is a federal credit union headquartered in NORWICH, CT with 7 branch locations and about $311.66 million in total assets. Opened 86 years ago in 1936, COREPLUS FEDERAL CREDIT UNION has about 27,314 members and employs 69 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COREPLUS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 202 Salem Tpke NORWICH, CT 06360 |
| Phone: | (860) 886-0576 |
| Fax: | (860) 885-3538 |
| Website: | http://www.coreplus.org |
| Branches: | 7 branch locations |
| Members: | 27,314 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1148 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $311,658,304 |
| CEO/Manager: | Nicholas K Fortson |
| Chairperson: | Jean Swift |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 24,242,606 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 77,336,322 |
| Unsecured Loans | 36,538,161 |
| Other Loans | 111,779,458 |
| TOTAL LOANS | 225,653,941 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -973,167 |
| Land And Building | 2,602,508 |
| Other Fixed Assets | 672,292 |
| NCUSIF Deposit | 2,594,811 |
| All Other Assets | 0 |
| TOTAL ASSETS | 311,658,304 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 4,000,000 |
| Accounts Payable & Other Liabilities | 1,757,978 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 57,495,937 |
| Regular shares | 126,467,418 |
| All Other Shares & Deposits | 100,457,099 |
| TOTAL SHARES & DEPOSITS | 284,420,454 |
| TOTAL LIABILITIES | 290,178,432 |
| Regular Reserve | 0 |
| Other Reserves | -97,815 |
| Undivided Earnings | 21,577,687 |
| TOTAL EQUITY | 21,479,872 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 311,658,304 |
| INCOME & EXPENSE | |
| Loan Income | 2,090,639 |
| Investment Income | 161,240 |
| Other Income | 506,538 |
| Total Employee Compensation & Benefits | 1,126,924 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,310,936 |
| Non-operating Income & (Expense) | 2,006,951 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 144,464 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,496,640 |
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